Financial services in Myanmar are underdeveloped.
According to UNCDF’s Making Access Possible Report (2013), over 70% of Myanmar citizens have no access to formal financial services.
Just 5% of adults have savings accounts with a formal financial institution, while over 32% of the adult population regularly borrow from unregulated moneylenders, who typically charge interest rates of 10 – 20% per month.
DAWN expands the availability of high-quality, affordable and appropriate services for Myanmar’s financially excluded. DAWN provides group-guaranteed loans, interest-bearing savings accounts and financial literacy training to low-income women who own and operate their own businesses.
Provide a wide range of high-quality financial services to the underserved, reaching low-income people, micro entrepreneurs, and small enterprises across Myanmar.
Be the best microfinance institution in Myanmar, improving the lives of the families we serve.
Respect, Excellence, Innovation and a Passion for Social Change.
DAWN seeks to expand the availability of high-quality, affordable, and appropriate services for Myanmar’s financially excluded by providing group-guaranteed and individual loans, interest-bearing savings accounts, and financial literacy training, to low-income micro and small business entrepreneurs who own and operate their own businesses.
- Own their own business.
- Have been operating their business for at least one year (for Group Lending).
- Agree to use the loan proceeds toward a productive use for their business.
- Demonstrate to a loan officer that their business can support on-time repayment of their loan.
- Attend three financial literacy training sessions prior to receiving their loan (for Group Lending).
- Agree to attend bi-weekly group meetings for the duration of their loan term (for Group Lending).
- Pledge to support their fellow group members to ensure the group repays their loan installments on time (for Group Lending).
Key Operating Statistics:
- DAWN serves more than 200,000 clients.
- DAWN has a total outstanding loan portfolio of over 50 billion Myanmar Kyats (nearly 33 million USD).
- DAWN offers interest-bearing savings accounts.
- DAWN offers group-guaranteed loans for business investment and seasonal agriculture, and larger individual loans for business owners in select areas of Yangon.
- DAWN charges 2.5% interest per month on loans and pays 1.25% interest per month on mandatory savings deposits.
- DAWN has more than 50 branches geographically dispersed across six regions in Myanmar: Yangon, Bago, Mon, Kayin, Magway and Mandalay.